If the Tokyo Boyz take us down to the bottom of the monthly pivot and the London Boyz take us up to the top of the monthly pivot (crossing the channel), I’ll risk 0.5% on a long at the black line (1.18455 – 1.1850).
Trading was struggling a bunch around that line today — it corresponds to February’s monthly buy zone. There seems to be a bunch of buying interest at this line and selling interest at the top of the monthly buy zone.
Let’s see what happens when I breakout _with_ the London Boyz, with a buy limit at 1.8455 and a stop loss below the monthly buy zone at 1.18047, a 40.8 pip stop loss (not bad eh?). It works out to be equidistant from my stop to the top of the buy zone for if it loses momentum and 90 pips away from the next zone with large selling interest.
I’m expecting the tidal wave of USD bulls to take this thing lower, but in the off chance that this setup happens.. I’m definitely going to take it.